Modo Energy has said that battery energy storage systems (BESS) in Australia’s National Electricity Market (NEM) earned an average of AU$148,000/MW (US$92,810/MW) in 2024, a 45% increase year-on-year.
Modo Energy has signalled that 16.8GW of battery energy storage systems (BESS) will connect to Australia’s National Electricity Market (NEM) by the end of 2027.
Research firm Wood Mackenzie has found that daily price volatility from renewables on Australia’s National Electricity Market (NEM) supports a stronger battery revenue outlook.